EnQuest shares rally after $833 million Malaysia deal shifts outlook
EnQuest shares rose 27% in London after the company agreed to buy stakes in four Malaysian offshore oil and gas contracts for up to $833 million. The deal would more than double 2025 production and shift most output to South East Asia. Completion requires shareholder and PETRONAS approval, and pre-emption rights apply to one package. EnQuest plans to fund the purchase with existing debt and cash.